Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-405.2
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Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-405.2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The charter of the corporation may include any provision expanding or limiting the liability of its directors and officers to the corporation or its stockholders as described under § 5-418 of the Courts and Judicial Proceedings Article.